Richmont Mines, Inc. (ARCA:RIC) has been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.00.

A number of brokerages have recently weighed in on RIC. BidaskClub upgraded Richmont Mines from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research lowered Richmont Mines from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Finally, National Bank Financial restated an “outperform market weight” rating on shares of Richmont Mines in a research note on Monday, May 22nd.

Richmont Mines (ARCA:RIC) traded up 1.359% during trading on Tuesday, hitting $9.325. 150,250 shares of the stock traded hands. The company has a 50-day moving average price of $8.07 and a 200 day moving average price of $7.66. Richmont Mines has a one year low of $5.45 and a one year high of $11.66. The stock has a market cap of $594.56 million, a PE ratio of 43.171 and a beta of 0.48.

Richmont Mines (ARCA:RIC) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The company had revenue of $59.30 million for the quarter, compared to the consensus estimate of $59.30 million. Richmont Mines had a net margin of 9.44% and a return on equity of 8.16%. Richmont Mines’s revenue was up 46.1% compared to the same quarter last year. Analysts expect that Richmont Mines will post $0.30 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in RIC. Aperio Group LLC raised its stake in shares of Richmont Mines by 8.0% in the second quarter. Aperio Group LLC now owns 17,550 shares of the basic materials company’s stock worth $137,000 after buying an additional 1,294 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Richmont Mines by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 736,337 shares of the basic materials company’s stock worth $5,221,000 after buying an additional 2,000 shares during the period. Mackenzie Financial Corp raised its stake in shares of Richmont Mines by 0.8% in the first quarter. Mackenzie Financial Corp now owns 1,222,900 shares of the basic materials company’s stock worth $8,683,000 after buying an additional 9,900 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Richmont Mines during the first quarter worth $115,000. Finally, Spot Trading L.L.C. acquired a new stake in shares of Richmont Mines during the first quarter worth $118,000. Institutional investors own 63.98% of the company’s stock.

Richmont Mines Company Profile

Richmont Mines Inc is a mining company. The Company is engaged in mining, exploration and development of mining properties, principally gold. The Company operates gold mines at various sites in Quebec and Ontario. The Company’s segments include Quebec and Ontario. The Company is engaged in producing gold from the Island Gold Mine in Ontario and the Beaufor Mine in Quebec.

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